Austerity drags down UK economy, again

We keep hearing from the Republicans that austerity is the answer, despite the fact that it doesn't work in a declining economy. There's plenty of evidence that shows austerity is destructive and fails miserably when implemented in such circumstances. This is why the Republicans talk about the need for austerity and mistakenly relate it to a household budget, because it consistently fails when forced into a tanking economy.

The example that the GOP would rather not talk about (though they loved talking about it in the early days) is the UK. It's the classic assault on the middle class and poor that many on the right want to implement in the US. Cut services, increase school fees, privatize and hand over to friends and slash budgets for proper regulation so that the 1% can continue to abuse the system.

How's it all working out for the UK? If you consider rapidly rising unemployment, Wild West banking and bleak economic outlook good, they things are great. The Guardian with more on the crisis from the notable group of lefties at KPMG.

"Indeed, with both permanent and temporary appointments declining at the sharpest rate in nearly three years and overall demand for staff showing the weakest growth since the start of 2012, the outlook would appear bleak … A real worry for me is the acceleration in the pace of decline, which suggests this isn't a mere blip.

"If this trend were to continue, there's a very real chance we could hit a 3 million unemployed figure in the UK in the not too distant future."

We keep hearing from the Republicans that austerity is the answer, despite the fact that it doesn't work in a declining economy. There's plenty of evidence that shows austerity is destructive and fails miserably when implemented in such circumstances. This is why the Republicans talk about the need for austerity and mistakenly relate it to a household budget, because it consistently fails when forced into a tanking economy.

The example that the GOP would rather not talk about (though they loved talking about it in the early days) is the UK. It's the classic assault on the middle class and poor that many on the right want to implement in the US. Cut services, increase school fees, privatize and hand over to friends and slash budgets for proper regulation so that the 1% can continue to abuse the system.

How's it all working out for the UK? If you consider rapidly rising unemployment, Wild West banking and bleak economic outlook good, they things are great. The Guardian with more on the crisis from the notable group of lefties at KPMG.

"Indeed, with both permanent and temporary appointments declining at the sharpest rate in nearly three years and overall demand for staff showing the weakest growth since the start of 2012, the outlook would appear bleak … A real worry for me is the acceleration in the pace of decline, which suggests this isn't a mere blip.

"If this trend were to continue, there's a very real chance we could hit a 3 million unemployed figure in the UK in the not too distant future."

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